Southern Financial News

Nishad Singh, the former head of engineering at the collapsed exchange FTX, is reportedly planning to plead guilty to criminal charges brought by the United States Department of Justice.

Sam Bankman-Fried, the man behind the bankrupt crypto exchange FTX, is facing increasing scrutiny from a federal judge over his use of electronic devices while out on bail.

The Securities and Exchange Commission charged Terraform Labs and its CEO, Do Kwon, with fraud, alleging that they orchestrated a multibillion dollar «crypto asset securities fraud,» the SEC said Thursday.

Two former executives at crypto exchange Gemini were probed as part of a now-closed criminal investigation related to the first US Bitcoin [BTC] futures contract, which was debuted by the exchange. The investigation revolved around the civil case filed against the exchange by the Commodity Futures Trading Commission (CFTC) in June 2022.

A federal bankruptcy judge ruled that Celsius Network owns most of the cryptocurrency that customers deposit on its online platform, meaning that Celsius customers will be the last to receive repayment from the crypto lender.

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Genesis, a crypto lending platform owned by venture capital firm Digital Currency Group, joined crypto firm BlockFi in filing for bankruptcy, the latest crypto company to go belly-up amid allegations of fraud after the collapse of FTX late last year.

The collapse of FTX was caused by “a very small group of grossly inexperienced and unsophisticated individuals,” the crypto exchange's new CEO, John Ray III, said today during a House Financial Services Committee hearing. Ray appeared before Congress alone as the former CEO of now-bankrupt FTX, Sam Bankman-Fried, was arrested yesterday in the Bahamas.

Shares of cryptocurrency exchange Coinbase (COIN) surged more than 28% on Thursday, a day after dismissal of a customer class action lawsuit alleging that it sold cryptocurrency tokens through unregistered securities offerings.

FTX founder Sam Bankman-Fried was arrested on Dec. 12 in the Bahamas, according to several news reports.The U.S. government's request for his arrest, based on a sealed indictment filed by the U.S. District Court of the Southern District of New York, came a day before Bankman-Fried was due to appear before the U.S. House Financial Services Committee to answer questions about the collapse of the major cryptocurrency exchange he formerly ran as CEO.

The linked mining ecosystems have been fighting for their very existence for the last year, and their efforts are starting to pay off as Bitcoin (BTC) begins to show signs of a modest bull run. Mining incentives and transaction fees contributed to an income boost for the Bitcoin mining community that was almost fifty percent higher during the first month of 2023.

JPMorgan Asset Management's timber-investing arm has acquired about 250,000 acres in the Southern pine belt for more than $500m, Wall Street's latest big woodlands purchase made with an eye toward carbon markets.

Bitcoin has recently surged past the $23,500 resistance level and is now headed for new highs. With the price of Bitcoin continuing to rise, many investors are wondering where it will go next. In this article, we will explore some of the factors that could affect its price in the near future and make predictions on where it could be headed.

LIMA, Peru—After nearly two months and dozens of deaths, Peru’s political upheaval is battering industries that once powered one of Latin America’s fastest-growing economies.

The South Korean crypto exchange Bithumb has suffered another double blow from the nation’s prosecutors – who have raided the exchange in a price manipulation probe. Officers also want to arrest Bithumb’s suspected largest shareholder on embezzlement charges.

Joe Miller in New York Damian Williams made history well before he brought criminal charges against FTX founder Sam Bankman-Fried over “one of the biggest financial frauds”. In late 2021, the Brooklyn-born son of Jamaican immigrants became the first black person to be sworn in as the US attorney for the Southern District of New York, the storied branch of American justice whose jurisdiction includes Wall Street and, by extension, global finance.

A class-action suit was filed against Silvergate Capital, operator of the Silvergate Exchange Network and parent company of Silvergate Bank, in United States District Court of Southern California on Jan. 10. The suit was filed on the behalf of all purchasers of Silvergate securities between November 9, 2021, and January 5, 2023, claiming violations of the Securities Exchange Act of 1934.

In order to send Kwon back to South Korea so that he may face charges there, South Korean officials have made a request for assistance from the government of Serbia.

FTX founder Sam Bankman-Fried oversaw one of the biggest financial frauds in American history, a top federal prosecutor said in charging that the former chief executive stole billions of dollars from the crypto exchange’s customers while misleading investors and lenders.

He is scheduled to appear in a magistrates' court today in the Caribbean country's capital, Nassau.FTX filed for bankruptcy last month, leaving its fifty largest creditors $3.1 billion out of pocket.A poster child for the cryptocurrency movement, Bankman-Fried's fall from grace has been sudden and dramatic. A report by newly-installed FTX CEO John Ray last month, blasted his predecessor for "a complete failure of corporate controls and a complete absence of trustworthy financial information".The new CEO also warned that a "substantial portion" of assets held with FTX may be "missing or stolen" and reveals that corporate funds were "used to purchase homes and other personal items for employees and advisors".The SEC's director of enforcement, Gurbir S.

The Terra Luna Classic price prediction is bullish, as the LUNC/USD pair has gained support at $0.000169, a support level extended by an upward trendline. A recent arrest warrant issued for associates of Terra (LUNA) founder Do Kwon has apparently been thrown out by a South Korean judge.